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[Week 16 - 2022] Trades Recap and Trade Setups

Updated: Jan 20

Hey Traders,


Rates continues its climb throughout the week, putting pressure to risk on asset with the S&P500 closing off the week near its recent low. Although the indices gained some ground upon the release of the retail sales, the move was completely removed. Rates remain the core issues until May FOMC. USD/JPY continues its rally but we expect the move to be losing momentum soon as many Japanese raises concern with the weakening of the Yen, potentially losing in profitability as imports using USD becomes more expensive.


Upcoming Economic Release:

Weekly Economic Calendar for Week 16
Credit: ForexFactory.com Time: +8 GMT


Dollar Index (DXY)

Dollar extend gain trading past recent high

The Dollar experienced some retracement until the released of the retail sales. The move was recovered and has closed the week at a new recent high. We are still expecting the Dollar to rise until May's FOMC.



Spot Gold (XAU/USD)

Gold extend gain, breaking above resistance level

Gold continued to stay in the bullish trend, keeping price above the 1960 region and is on track to reach back the 1999 resistance zone.



Trade Recap

Spot Gold (Analysis 14-3)

Gold Analysis

Recap (Week 14 - 2 Weeks Ago) Take Profit - 1

Gold reached Take Profit (1) level

Recap (Week 15 - Last Week) Take Profit - 2

Gold reached Take Profit (2) level

Long position reached Take Profit - 2 level where we announced close / partial.



AUD/JPY (Analysis 15-1)

AUDJPY Analysis

Recap (Week 15 - Last Week) Take Profit - 1

AUDJPY reached Take Profit (1) level

Long position reached Take Profit - 1 level where we announced to close / partial / risk free.



NZD/CAD (Analysis 14-2)

NZDCAD Analysis

Recap (Week 15 - Last Week) Stopped

AUDJPY stopped out

Long position was close to reaching our Take Profit - 1 level but unfortunately got stopped out.



Trade Analysis / Setups


EUR/JPY (Analysis 16-1)

EURJPY Analysis

Long opportunity:

Reversal confirmation at 134.545 region towards 136.938 as Take Profit - 1 level or;

Reversal confirmation at 133.731 region towards 136.199 as Take Profit - 1 level.



GBP/JPY (Analysis 16-2)

GBPJPY Analysis

Long opportunity: Reversal confirmation at 164.044 region towards 164.882 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 164.044 region towards 163.108 as Take Profit - 1 level.



Soybean - May (Analysis 16-3)

Soybean Futures Analysis

Long opportunity:

Reversal confirmation at 1652.75 region towards 1689.25 as Take Profit - 1 level or;

Break and retest confirmation at 1689.25 region towards 1737.0 as Take Profit - 1 level.


 

Cheers to all our member who managed to pack some profits this trading week.


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